Ameriprise Financial Inc. Increases Stock Position in Braze, Inc. (NASDAQ:BRZE)

Ameriprise Financial Inc. raised its position in Braze, Inc. (NASDAQ:BRZE - Free Report) by 78.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 599,192 shares of the company's stock after acquiring an additional 263,694 shares during the period. Ameriprise Financial Inc. owned approximately 0.58% of Braze worth $25,094,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BRZE. Tower Research Capital LLC TRC grew its stake in Braze by 168.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company's stock valued at $27,000 after acquiring an additional 405 shares during the period. Aster Capital Management DIFC Ltd grew its stake in Braze by 9,188.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 836 shares of the company's stock valued at $35,000 after acquiring an additional 827 shares during the period. EverSource Wealth Advisors LLC grew its stake in Braze by 8,436.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock valued at $39,000 after acquiring an additional 928 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Braze in the fourth quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Braze during the fourth quarter valued at approximately $115,000. Institutional investors and hedge funds own 90.47% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRZE. Barclays cut their target price on Braze from $70.00 to $47.00 and set an "overweight" rating on the stock in a research report on Friday. Stephens started coverage on Braze in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Braze in a research report on Friday, March 28th. Wells Fargo & Company dropped their price objective on Braze from $55.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group increased their price objective on Braze from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $50.10.

Insider Activity

In other news, CEO William Magnuson sold 18,050 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $40.82, for a total value of $736,801.00. Following the transaction, the chief executive officer now owns 564,766 shares in the company, valued at approximately $23,053,748.12. This trade represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 8,365 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $40.12, for a total transaction of $335,603.80. Following the completion of the transaction, the insider now owns 168,882 shares in the company, valued at $6,775,545.84. This represents a 4.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,937 shares of company stock valued at $2,235,381. 24.03% of the stock is currently owned by company insiders.

Braze Price Performance

Shares of NASDAQ:BRZE traded up $0.51 on Friday, hitting $36.89. The company's stock had a trading volume of 774,783 shares, compared to its average volume of 1,250,559. The company has a market capitalization of $3.86 billion, a PE ratio of -32.36 and a beta of 1.15. The company has a 50-day simple moving average of $33.09 and a 200 day simple moving average of $37.88. Braze, Inc. has a 1 year low of $27.45 and a 1 year high of $48.33.

Braze (NASDAQ:BRZE - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $160.40 million for the quarter, compared to analyst estimates of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. The company's revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts expect that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Braze Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.